In a bid to secure Thailand’s new virtual bank licenses, Charoen Pokphand Group and Gulf Energy Development Pcl, among the country’s largest business groups, are actively vying for the opportunity. True Corp Pcl, the telecommunication arm of CP Group, along with its partners, including Ant Group, are preparing a bid, while Gulf Energy, the top power producer in Thailand, plans to submit a bid in partnership with Krung Thai Bank Pcl and its affiliate, Advanced Info Service Pcl. The move underscores the significant competition and strategic partnerships emerging in the quest to obtain the new virtual bank licenses in Thailand.